Open public discussion with Director of the Center for International Business and Public Policy, Johns Hopkins University, professor Roger Leeds and professor at Stanford University Stephen Krasner gathered over hundred Kharkivites on January 16.
The subject of the discussion was “Direct investments in emerging markets: creating conditions for growth,” during which the experts shared their views on the issue and took questions from Kharkiv business people, students, public activists and economists.
The experts focused on the close connection between economics and politics and necessity to create favorable conditions for the private sector in Ukraine, referring to examples of other countries.
Also, Roger Leeds stated that before looking for foreign private investments, it is necessary to search for attracting funds inside Ukraine, as the country has a lot of successful businesses and plenty of money.
“Ukraine is not a poor country. But this is a country where the financial system does not work properly and it’s inefficient. Therefore the economy lacks domestic investment, relying heavily on foreign investment,” noted professor Leeds, pointing out that effective reforms would promote the development of small and medium-sized businesses in the country.
Among the major factors that impede foreign investors to come to the developing Ukrainian market, experts highlighted poor legislative protection of business in Ukraine.
Professor Stephen Krasner told about the case study method which allows to find similar features in developing countries and to study various economic situations around the world.
“Ukraine is not unique with its problems, it’s helpful to learn from international experience to solve them and to find the ways through professional consulting,” the international economists stated.
Reference: The discussion was arranged within the Leadership Academy for Development, which aims to create a network of effective private sector managers, capable of becoming new effective reform leaders. The event’s organizers were Center on Democracy, Development, and the Rule of Law of Stanford University, Center for International Private Enterprise and School of Public Management of the Ukrainian Catholic University.
Text: Olena Sokolynska
Photo: Olena Sokolynska, School of Public Management UCU